Primecap Management Co. CA Sells 76,750 Shares of American Homes 4 Rent (NYSE:AMH)

Primecap Management Co. CA lowered its position in shares of American Homes 4 Rent (NYSE:AMHFree Report) by 16.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 399,300 shares of the real estate investment trust’s stock after selling 76,750 shares during the quarter. Primecap Management Co. CA’s holdings in American Homes 4 Rent were worth $14,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. acquired a new stake in American Homes 4 Rent in the 3rd quarter worth about $510,000. Scissortail Wealth Management LLC acquired a new stake in shares of American Homes 4 Rent in the fourth quarter valued at approximately $801,000. Bank of Nova Scotia boosted its stake in shares of American Homes 4 Rent by 18.1% in the third quarter. Bank of Nova Scotia now owns 7,711 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 1,183 shares during the period. Manning & Napier Group LLC grew its position in American Homes 4 Rent by 59.2% during the fourth quarter. Manning & Napier Group LLC now owns 172,372 shares of the real estate investment trust’s stock worth $6,198,000 after buying an additional 64,131 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in American Homes 4 Rent by 1.7% during the 4th quarter. Westpac Banking Corp now owns 123,110 shares of the real estate investment trust’s stock worth $4,427,000 after acquiring an additional 2,050 shares during the period. 91.87% of the stock is owned by institutional investors and hedge funds.

American Homes 4 Rent Trading Up 0.2 %

American Homes 4 Rent stock traded up $0.06 during trading hours on Friday, reaching $36.13. The company had a trading volume of 1,330,116 shares, compared to its average volume of 1,814,146. American Homes 4 Rent has a 12-month low of $31.36 and a 12-month high of $37.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50-day moving average price of $36.04 and a 200 day moving average price of $35.80. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 3.05 and a beta of 0.70.

American Homes 4 Rent (NYSE:AMHGet Free Report) last announced its earnings results on Friday, May 10th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). American Homes 4 Rent had a net margin of 22.55% and a return on equity of 5.00%. The business had revenue of $423.56 million for the quarter, compared to the consensus estimate of $421.28 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that American Homes 4 Rent will post 1.74 earnings per share for the current year.

American Homes 4 Rent Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.88%. American Homes 4 Rent’s payout ratio is currently 106.12%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMH. Citigroup upgraded shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $41.00 in a research report on Friday, March 22nd. Scotiabank raised their target price on American Homes 4 Rent from $39.00 to $41.00 and gave the company a “sector outperform” rating in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on American Homes 4 Rent in a report on Tuesday, January 30th. They set a “buy” rating and a $40.00 price target for the company. Mizuho lifted their target price on American Homes 4 Rent from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.71.

Check Out Our Latest Analysis on American Homes 4 Rent

Insider Activity at American Homes 4 Rent

In related news, Director Matthew J. Hart sold 7,263 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $36.76, for a total transaction of $266,987.88. Following the sale, the director now directly owns 41,336 shares of the company’s stock, valued at $1,519,511.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Brian Reitz sold 3,000 shares of American Homes 4 Rent stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.53, for a total transaction of $106,590.00. Following the transaction, the chief accounting officer now owns 35,343 shares in the company, valued at approximately $1,255,736.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew J. Hart sold 7,263 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $36.76, for a total value of $266,987.88. Following the completion of the sale, the director now owns 41,336 shares of the company’s stock, valued at approximately $1,519,511.36. The disclosure for this sale can be found here. In the last three months, insiders have acquired 14,476 shares of company stock valued at $331,919 and have sold 60,263 shares valued at $2,212,078. 6.32% of the stock is currently owned by insiders.

About American Homes 4 Rent

(Free Report)

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.

See Also

Want to see what other hedge funds are holding AMH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Homes 4 Rent (NYSE:AMHFree Report).

Institutional Ownership by Quarter for American Homes 4 Rent (NYSE:AMH)

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